Young people don't drive.
The Economist ran a piece on vehicle ownership around the globe, and we just had to share. It's a graph of national car ownership rates and it's sure to produce a few "WTHs" from those who view it. Car-lovin' 'Murkins have to be on top, right? No. In fact, we'd bet the house that you wouldn't guess the country in the number one slot even if we spotted you the first letter of its name. It's Luxembourg. Yes, Luxembourg has claimed the top spot with 647 cars for every 1,000 reside
The average car buyer trades his car in every five years. If, instead, you didn't trade your car in but kept it for 15 years, or 225,000 miles, Consumer Reports says you'd save $30,800. How'd they get that figure? If you bought a Honda EX and kept it for a decade-and-a-half rather than replacing it, you'd save $20,500 in new car expenses, depreciation, taxes, and insurance. The other $10,300 comes from the interest you earned on the twenty grand -- because